The U.S. Department of Energy will give Holtec International up to $400 million to help pay for new reactors at the Palisades Nuclear Plant.
The funds will go toward two 300-megawatt small modular reactors, or SMRs, at Palisades.
In a statement, U.S. Secretary of Energy Chris Wright said SMRs will be vital to supporting the growth of AI and data centers, along with securing the nation’s grid.
Holtec spokesperson Nick Culp says the reactors will allow Palisades to generate enough energy to power 1.4 million homes, adding that Holtec hopes to deploy them by the early 2030s.
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